Say what you want about the City of Phoenix and their thought of renovating. But isn't it fact that a majority of the costs of the renovations would come from the city of phoenix itself, and not the teams? If they could somehow combine the Coyotes, it could somehow invite more voters to approve of it. So why wouldn't they look for that avenue? God forbid that cities are diligent in their studies instead of looking at one quick assessment and agreeing with it.
I dont know that its a majority of the funds, numbers vary but Ive seen $400M tossed around of which at least half is coming from the city, the other half from Sarver & that would be exclusive to a dual purpose facility that would also be home to the Coyotes. So app $400M to satisfy the Suns, costs to reno split 50/50 with the City. I could be wrong, missed something but thats the last I heard about it. Either that or a brand new arena & that projected to cost considerably more, both Sarver & the City agreeing to instead explore the more inexpensive & cost effective option of renovations to TSRA, consultants hired to scope it out.
I was actually somewhat surprised to learn that the consultants mandate included a feasibility study including Im assuming app costs to reconfigure the buildings existing footprint along with adding additional internal infrastructure to make it hockey friendly. Up-page a quote from the Phoenix City Manager who in responding to a question from a Council Member indicating that yes, hockey was to be included in the consultants report. This would of course be much more palatable to the electorate, a shared facility, a politically popular position to be taking as it absolutely makes sense on a whole bunch of levels however....
There are major obstacles to the realization of that ideal & I dont see how they can overcome them, find an agreement that satisfies Sarver, that satisfies the Coyotes with respect to facility management & the control & capture of building revenues. Asking Sarver to surrender 50% of everything from naming rights to non NBA (along with his other teams that currently play out of TSRA) & NHL gate (etc) receipts, splitting concert & event revenues & so on seems to me not only a non-starter for Sarver who already runs a pretty tight ship & needs 100% of those dollars, but so too a non-starter for the Coyotes who like Sarver will need to capture 100% of all of those extraneous non NHL dollars in order to survive.
At loggerheads here. Two competing interests. If the teams were all held under single ownership then sure, there would be light at the end of the tunnel. Given these factors how then does the City of Phoenix satisfy Sarver & the Coyotes? And its at this point that we start getting into the realms of some serious speculation pursuant to the possibility that maybe they do so in providing on-going subsidies to both Sarver & Barroway through the creation of special tax districts & other mechanisms, those proceeds guaranteed & backed by the City of Phoenix with proceeds thereof flowing to the Suns & Coyotes, making up for the loss of the 50% split in concert & event, building sponsorship & naming rights & so on.
And its all circular... this speculation. Youve gone from the politically popular & common sensical "shared facility" that the general public would & likely does at least conceptually & idealistically support, but then tacking on the back end with increased taxation (in perpetuity, or for the life of the building, say another 20yrs) on your entertainment dollar, from game tickets to dining, drinking, parking etc. And if those revenues fall short, the City having to make up the difference from other tax sources & centers. Requires some seriously optimistic off the charts projections of the kind we saw from TL Hocking & others in Glendale not so long ago. And maybe thats why were looking at another year, another $125K for the consultants to craft such a plan, massage the numbers, continue on with some lobbying at the State level to see if they too can ease the costs & burden the City of Phoenix
might be contemplating.
So lets imagine all this actually happens. That the Coyotes contribute $100M... the building renovated to be at least partially if not totally hockey friendly... Sarver good to go with the plans & financing, tax program to make up for his shorts in sharing the building while simultaneously topping up the Coyotes.... the City of Phoenix doing it the right way & then holding a Public Referendum to vote on the issues & components of this rather elaborate deal & the public votes "yes"?.... Then fine. So be it. Its not my tax dollars. I'm not going to rail & decry against "the insanity" or whatever. If they vote "no" then that too should be respected. But the public should be given a voice here & their wishes respected. I'm sure Glendale & other interested parties would have much to say about this if this is where things are headed however the City of Phoenix could theoretically go it alone without State sponsorship (Bonding seems out with the Feds tax bill).
Anythings possible awfulwaffle.... What seems most pressing however is the current state of Andrew Barroways financial situation & the continuing losses being absorbed by the club. How does he even manage to hang on for another year, followed by the political & public wrangling that is sure to follow if such a plan hatches, and if approved, hang in out in Glendale through 2021 & reno's, taking up residency maybe in 2022/23, or... does Sarver pull a 180, goes along with all of this, the taxing & funding instituted immediately (2019) with direct subsidies going to both teams, Coyotes moving in & living with the ongoing reno's commencing with the 2019/20 NHL season....
The above about all I can creatively come up with in looking at Phx, TSRA. Who knows huh?